UZEX officially launched a trading platform in Belarus

On December 11, in Minsk, a ceremonial opening of the trading platform of the JSC “Uzbek Republican Commodity Exchange” (UZEX) was held on the basis of Belarusian Universal Commodity Exchange (BUCE).

The official opening ceremony of the trading platform was attended by the heads of JSC UZEX and OJSC BUCE, representatives of the Uzbek Embassy in Belarus, Belarusian Chamber of Commerce and Industry, brokerage offices and traders, as well as journalists.

In his opening speech, chairman of the board of the JSC UZEX Farokhidin Ibragimov noted that opening a trading platform of the Uzbek Stock Exchange in Belarus is a practical step towards implementation of the strategic partnership agreement signed between UZEX and BUCE within the framework of the official visit of Belarusian President Alexander Lukashenko to Uzbekistan in September 2018.

The main objective of the foreign trading platform of the JSC UZEX in Belarus is to facilitate mutual access for entrepreneurs and producers to the commodity markets of two countries using the opportunities of market mechanism of exchange trading. To achieve this goal, the brokerage office of the Belarusian LLC “Latemgroup” and a broker of the Uzbek stock exchange LLC “Global Trade Group” at BUCE have also been accredited at UZEX.

Chairman of the board of the OJSC “Belarusian Universal Commodity Exchange” Arkady Salikov said that mutually beneficial cooperation in the sphere of exchange trade will contribute to the further growth of shared trade turnover between the two countries.

At the initial stage, the sale of domestic high-liquid goods, including cotton fiber, lint and dried fruits to the Republic of Belarus, as well as the import of Belarusian industrial and food products to Uzbekistan is envisaged through the exchange trading. The interest in working with the trading platform has already been expressed by Belarusian enterprises of light and food industry. In the near future, an expansion of the list of commodity items for sale through a new foreign trading platform of the JSC UZEX is expected.